Axis Bank tops the list of Sensex top gainers in early trade. There is an increase of 2.77 percent. There is an increase of 1.77 percent in BEL, 1.31 percent in Reliance, 1.14 percent in Power Grid, 1.12 percent in NTPC and 1.06 percent in Trent. Talking about top losers, Asian Paints are in bad shape. There is a decline of 5.76 percent. Maruti, Infosys are also battered. After the India-EU trade deal, the stock market is bright today on Wednesday. BSE’s 30-share benchmark index Sensex rose 503 points to 82361. Whereas, NSE’s benchmark index of 50 stocks Nifty is trading at 25304 with a gain of 129 points. There are 2337 stocks trading on NSE. Of these, 1672 are on the green mark and 539 are on the red mark. After the India-EU trade deal, the stock market opened green today on Wednesday. BSE’s 30-share benchmark index Sensex opened 34 points higher at 81892. Whereas, NSE’s 50-stock benchmark index Nifty managed to open with a gain of 83 points at 25258. Indian stock market’s benchmark indices Sensex and Nifty 50 are expected to open higher on Wednesday, extending the previous session’s gains after the India-EU trade agreement. On Tuesday, the Indian stock market had registered a rise after the announcement of the free trade agreement between India and the European Union. The Sensex closed 319.78 points, or 0.39 per cent, higher at 81,857.48, while the Nifty 50 gained 126.75 points, or 0.51 per cent, at 25,175.40.
What are the global signals for Sensex-Nifty?
Mixed trend of Asian markets
Asian markets were mixed on Wednesday, with South Korean indices hitting record highs. Japan’s Nikkei 225 fell 0.79 percent, while the Topix lost 0.97 percent. South Korea’s Kospi rose 1.27 percent and Kosdaq rose 1.55 percent. Hong Kong Hong Seng index futures indicated a higher open.
Gift Nifty Performance
GIFT Nifty was trading around 25,445 level, which is at a premium of about 62 points over the previous close of Nifty futures. This indicates a positive start for the Indian stock market indices.
Mixed signals from Wall Street
US stock markets were mixed on Tuesday ahead of earnings reports from megacap companies, with the S&P 500 posting gains for the fifth consecutive day and hitting an intraday record high. The Dow Jones Industrial Average fell 408.99 points, or 0.83 percent, to 49,003.41, while the S&P 500 rose 28.37 points, or 0.41 percent, to 6,978.60. The Nasdaq Composite added 215.74 points, or 0.91 percent, to 23,817.10.
Condition of shares of big companies
Nvidia’s share price rose 1.10 percent, Microsoft’s shares rose 2.19 percent, Apple’s share price rose 1.12 percent and Tesla’s share price fell 0.99 percent. UnitedHealth’s stock price fell 19.61 percent, Humana’s shares fell 21.13 percent and CVS Health fell 14.15 percent. General Motors’ share price rose 8.77 percent.
Decline in US consumer confidence
US consumer confidence fell to its lowest level in more than 11-1/2 years in January. The Conference Board’s consumer confidence index fell 9.7 points this month to 84.5, the lowest level since May 2014. According to a Reuters survey, economists had expected the index to be at 90.9.
Bank of Japan meeting minutes
Bank of Japan policymakers agreed on the need to keep raising interest rates, with some emphasizing the role of the weak yen on underlying inflation and the timing of the next interest rate hike, minutes of their December meeting showed.
Record rise in gold prices
Gold prices hit a record high above $5,200 an ounce, extending a historic rally as safe-haven demand surges amid economic and geopolitical uncertainty. Spot gold rose 0.08 percent to $5,186.08 an ounce, after reaching a record $5,202.06. US gold futures rose 2.01 per cent to $5,223.34 an ounce. Spot silver was up 1.14 percent at $113.41 an ounce. Crude oil prices remained flat. Brent crude fell 0.12 per cent to $67.49 a barrel, while US West Texas Intermediate (WTI) crude futures rose 0.08 per cent to $62.39.